Those who drew an honorarium of Rs 3,000 will from now on get Rs 4,500 and those who used to get Rs 2,200 will get Rs 3,500, he said. The honorarium of Anganwadi helpers will be hiked from Rs 1,500 to Rs 2,500, says the PM.

During his Independence Day speech on 15th August 2014, Prime Minister Modi announced the establishment of PMJDY as a scheme meant to increase banking penetration, promote financial inclusion and provide at least one bank account per household across the country in four years.

PMJDY was started with a target to provide universal access to banking facilities starting with basic saving bank account with an overdraft upto Rs 5000 subject to satisfactory operation in the account for six months and RuPay Debit card with inbuilt accident insurance cover of Rs 1 lakh.

Recent Union Budgets have focussed significantly on social security measures with the objective of moving towards a universal social security system for all, especially the poor and the underprivileged.

\"In a way, this is a saving for the poor, this is his empowerment for the future. And those who opened their accounts under the Pradhan Mantri Jan DhanYojna, have received the benefit of insurance as well,\" the PM said.